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Mortgage Rates

BUSINESS
June 7, 2012 | By E. Scott Reckard
Mortgage rates fell to new lows for the sixth straight week, with lenders offering the 30-year fixed-rate loan at an average 3.67%, down from 3.75% a week ago, home finance giant Freddie Mac said. The 15-year fixed-rate loan averaged 2.94%, down from 2.97% last week, according to Freddie's latest weekly survey . Freddie Mac economist Frank Nothaft attributed the decline to reports showing weak growth in jobs and the economy. Those factors make inflation less likely and pressure central bankers to keep rates down.
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BUSINESS
February 13, 2014 | By E. Scott Reckard
A five-week decline in fixed mortgage rates has ended, with Freddie Mac's survey showing the 30-year home loan averaged 4.28% early this week, up from 4.23% a week ago. The 15-year fixed-rate mortgage was unchanged at an average of 3.33%, Freddie Mac said Thursday in its weekly report on the terms that lenders are offering to highly creditworthy borrowers. Aside from a weak jobs report, which the market seemed to shrug off, there was little economic news early this week to influence rates, Freddie Mac chief economist Frank Nothaft noted in the finance company's report.
BUSINESS
May 10, 2012 | By E. Scott Reckard
Mortgage rates have descended further into record low territory for the second straight week, with the average for a 30-year, fixed-rate loan dropping to 3.83% from 3.84% last week, Freddie Mac said. The 15-year fixed loan also dipped to a record low, falling from 3.07% to 3.05%, according to  Freddie Mac's latest survey , released Thursday. Borrowers would have paid an average of 0.7% in upfront lender fees to obtain the fixed-rate loans. People with solid credit and incomes who shop around or who pay additional discount points to lenders often can obtain slightly better rates than those quoted by Freddie Mac. Adjustable loans were mixed.
BUSINESS
April 12, 2012 | By E. Scott Reckard
Mortgage rates are sharply lower on news of a weakening job market, with the 30-year fixed loan averaging 3.88% this week and the 15-year fixed at a record low of 3.11%, according to Freddie Mac. The average for the 30-year loan was down from 3.98% a week earlier, Freddie Mac said in its latest weekly report . The 15-year mortgage, popular with refinancers seeking to pay off their loans, was down from 3.21% a week ago. Its previous record...
BUSINESS
October 3, 2013 | By E. Scott Reckard
Mortgage rates have tumbled for the third straight week, with Freddie Mac pegging the 30-year fixed loan at an average of 4.22%, down from 4.32% last week to the lowest level since June. But what good is a low rate if a lender can't process your application? A protracted government shutdown would hamper the ability of lenders to confirm borrowers' incomes and identities, as well as threatening loans that are backed by agencies such as the Federal Housing Administration. “The federal government shutdown will have a growing impact on the housing market the longer it continues,” David H. Stevens, president and chief executive of the Mortgage Bankers Assn., said in a statement Thursday.
BUSINESS
September 13, 2012 | By E. Scott Reckard
Mortgage rates were on hold this week near-record lows, with lenders offering the 30-year fixed-rate home loan at an average 3.55% for the second straight week, according to Freddie Mac's latest survey. The McLean, Va., mortgage finance company said the typical rate for a 15-year loan edged down to 2.85% from 2.86%. Start rates for adjustable mortgages were mixed, with loans fixed for the first five years falling from 2.75% to 2.72% and the one-year adjustable holding steady at 2.61%.
BUSINESS
July 18, 2013 | By E. Scott Reckard
Fixed mortgage rates have settled down along with fears of an abrupt end to the Federal Reserve's economic stimulus efforts, with the average 30-year home loan rate falling from 4.51% last week to 4.37% early this week, according to Freddie Mac. Freddie Mac's latest survey of what lenders are offering to solid borrowers, released Thursday morning, showed the average rate for a 15-year fixed home loan also fell, from 3.53% last week...
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